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Content provided for the Corn Economy by NCGA's Lead Economist, Krista Swanson.
Dec 22, 2022Review Commissioned by NCGA Confirms USDA is a Vital Source of Market Information for Corn Growers
Author: Krista Swanson
Krista Swanson, the National Corn Growers Association’s lead economist, provides an analysis of a newly published independent study on the accuracy and market impact of USDA information on corn markets. The United States Department of Agriculture (USDA) collects survey data from farmers that is used as a basis for forecasts in several publicly published reports and databases. Agriculture economists, like me, frequently use USDA information in articles and studies that benefit farmers and our industry. In recent years growers have raised concerns about the complexity of the survey process, report accuracy and declining survey participation. The declining survey response rates have left USDA with a growing rate of insufficient data not only limiting what can be published, but also limiting ways data can be of value to farmers in return. As an example, when making the 2019/2020 farm program selection, farmers in counties with unpublished 2019 county survey yields, which would...Read More